Re: Presentations? And Capital Expenditure Budget (and more)

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Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta

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Re: Presentations? And Capital Expenditure Budget (and more)

in response to

Re: Presentations? And Capital Expenditure Budget

hubisan

posted on Aug 13, 2009 03:35PM

More from the Nov/Dec presentation ... operating netbacks were obviously a problem ...

2009 Budget was $373M

US$600MM Senior Notes (B1/BB+) –10.25%* - Interest only until 2015 606M

C$100MM Convertible Debenture – 4.75% - Convertible at $5/share until 2012 84M

"•Unrestricted cash and established unused bank credit sufficient to fund Q4 2008 and 2009 capital plans and 2009 term debt interest payments

•Q4 2008 and 2009 operating netback is anticipated to be sufficient to fund G&A, Algar contingency (if any) and working capital requirements with excess applied to reduce, or be used instead of, bank credit"

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